It’s weird as I remember banks dropping immediately when rates dropped and I’m still sitting on rates of 0.01% and whatnot. I’m not sure why it is as there must

It’s weird as I remember banks dropping immediately when rates dropped and I’m still sitting on rates of 0.01% and whatnot. I’m not sure why it is as there must be some calculus that banks are doing to keep rates low. My credit union also hasn’t raised their rates either even though the fed went from 0 to 4%. It’s even surprising for previously “high yield” that dropped their rates when rates went down and didn’t raise them. I had an ING account from years ago that is at 1%. They offer a “high yield” version but require me to close my account and reopen it to get the new rate. I think they just figure enough people won’t care and are better off hosing the majority of customers.